Common use of PERFORMANCE INCENTIVE PROGRAM Clause in Contracts

PERFORMANCE INCENTIVE PROGRAM. All employees covered by this Agreement will participate in an annual incentive program that aligns the interests of management and other employees. a. Prior to each calendar year beginning with 2004, the Compensation Committee of the Board of Directors ("BOD") will establish a performance incentive formula (the "Annual Incentive Formula") that will provide a "Threshold" or minimum incentive payment, a "Target" or average incentive payment and a "Maximum" incentive payment for senior management, other management, pilots and other employees.